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BAM Iridium consortium identified as Preferred Tenderer for the N25 New Ross Bypass in Ireland

8 December 2014 10:48

Bunnik, the Netherlands, 8 December 2014 - the BAM PPP PGGM and Iridium consortium has been identified as the Preferred Tenderer for the N25 New Ross Bypass project in Ireland.

The € 217 million project will involve the DBFMO of 13.6 km of dual carriageway (N25 and N30 routes) and 1.2 km of single carriageway (New Ross N30 route). The construction work is expected to support in the region of 300 jobs across Ireland and will be undertaken by a BAM Civil and Dragados joint venture.

The road is intended to bypass the town of New Ross on the N25 route and link the N25 with the N30 New Ross to Enniscorthy road. It will improve access from the cities of Cork and Waterford to the port of Rosslare and remove a major bottleneck on the N25 route.

Ireland’s National Roads Authority (NRA) has indicated its intention to utilise the EIB’s Project Bond Credit Enhancement product as the financing scheme that BAM Iridium requires to use for the project.

About BAM PPP

BAM PPP is an operating company of Royal BAM Group, a worldwide construction services company generating revenues of approximately €7 billion and listed on Euronext Amsterdam. BAM PPP is responsible for Royal BAM Group’s involvement in the PPP market. Operating from offices in Dublin, Bunnik, Brussels, Birmingham, Frankfurt am Main and Glasgow, BAM PPP is active in the road, rail, education, healthcare, judicial and general accommodation sectors and is well positioned to access most Western European markets.

About PGGM

PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On 1 September 2014 PGGM has € 178 billion in assets under management. The PGGM cooperative has approximately 675,000 members and is helping them to realize a valuable future. Either alone or together with strategic partners, PGGM develops innovative future provisions by linking together pension, care, housing and work.